Phaceliacapital Posted October 12, 2015 Author Share Posted October 12, 2015 Quadri is already used to mark cars that are at the higher end of the range so wouldn't surprise me. Link to comment Share on other sites More sharing options...
Phaceliacapital Posted October 12, 2015 Author Share Posted October 12, 2015 BTW using LVMH as analogy for Ferrari going from 7k to 10k units is crazy. Link to comment Share on other sites More sharing options...
investor-man Posted October 12, 2015 Share Posted October 12, 2015 BTW using LVMH as analogy for Ferrari going from 7k to 10k units is crazy. I agree. If Ferrari started producing cheaper cars then I might understand the comparison, but that's not the plan. Link to comment Share on other sites More sharing options...
rkbabang Posted October 12, 2015 Share Posted October 12, 2015 By the way, I hate the new sub $100k Maserati. They are everywhere on the street on NYC lately. I can say that the Maserati brand has already been cheapened. In summary, I think luxury brands are great franchises. But I think the urge to increase volume or go down market can often spell the doom of the franchise. I wasn't aware that Maserati had a sub $100K version now. This explains why I see them all the time now in New Hampshire. Every once in a great while I'll see a Ferrari or Lamborghini, but I'll see a Maserati on the streets at least weekly if not more lately. It has definitely effected how I view the brand. It is more like seeing a Model S was two years ago (I see these daily now) than it is like seeing a Ferrari. Link to comment Share on other sites More sharing options...
Jurgis Posted October 12, 2015 Share Posted October 12, 2015 IBTL: Link to comment Share on other sites More sharing options...
compounding Posted October 12, 2015 Share Posted October 12, 2015 Ferrari doesn't make engines for Alfa Romeo, only Maserati. Ferrari is now making engines for Alfa. The first will be for the Giulia Quadrifoglio. I'd imagine they'll try the Ferrari engines as an M or AMG type class in the Alfa lineup. Source? No mention in the prospectus of any such commerical agreement. I have seen the news articles, but note that "Ferrari-derived" is not necessarily the same as "manufactured and sold on a commercial basis". Link to comment Share on other sites More sharing options...
pantheman Posted October 13, 2015 Share Posted October 13, 2015 Ferrari doesn't make engines for Alfa Romeo, only Maserati. Ferrari is now making engines for Alfa. The first will be for the Giulia Quadrifoglio. I'd imagine they'll try the Ferrari engines as an M or AMG type class in the Alfa lineup. Source? No mention in the prospectus of any such commerical agreement. I have seen the news articles, but note that "Ferrari-derived" is not necessarily the same as "manufactured and sold on a commercial basis". I'm associating similar media reports. "Ferrari-engineered" http://autoweek.com/article/frankfurt-motor-show/listen-designers-discuss-alfa-romeo-giulia-quadrofoglio "Ferrari-developed" http://www.autocar.co.uk/car-news/motor-shows-frankfurt-motor-show/new-alfa-romeo-giulia-confirmed-september-2016-launch "developed and built by Ferrari" http://www.motorauthority.com/news/1100063_alfa-romeo-giulia-quadrifoglio-laps-nrburgring-in-739-official Link to comment Share on other sites More sharing options...
racemize Posted October 16, 2015 Share Posted October 16, 2015 http://aswathdamodaran.blogspot.com/2015/10/the-ferrari-ipo-price-premium-for.html?m=0 values equity at ~$7 billion. Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 16, 2015 Share Posted October 16, 2015 Ferrari IPO Said to Be Oversubscribed Ahead of New York Listing http://www.bloomberg.com/news/articles/2015-10-16/ferrari-ipo-said-to-be-oversubscribed-ahead-of-new-york-listing Link to comment Share on other sites More sharing options...
merkhet Posted October 16, 2015 Share Posted October 16, 2015 Ferrari IPO Said to Be Oversubscribed Ahead of New York Listing http://www.bloomberg.com/news/articles/2015-10-16/ferrari-ipo-said-to-be-oversubscribed-ahead-of-new-york-listing Given the reports of IPO demand 10x that of supply, I'm not surprised. Link to comment Share on other sites More sharing options...
wisborough Posted October 17, 2015 Share Posted October 17, 2015 Ferrari shipped about 7.2k cars in 2014 . I think their long term cap is 10k because above this they will have to comply with normal car companies emission standards co2 etc. clearly its going to be a while before this and given the noise is part of the wow factor i can't see them turning all electric anytime soon. If i was going to buy a stock where i know the long term volume is capped at 50% , i would want at least positive price/mix - which mgmt expect to be neutral as the mix shifts from V12 to V8 or a decent yield - which it doesn't have either its also poorly capitalised. how many other car companies do you know with net debt ? I am also sceptical about their ability to cut back on R&D via lower spend in F1. It hasn't won a constructors championship since 2008 - what sports teams are successful by cutting back on spend ? beyond the initial euphoria this is likely to be a CRAPPY investment. i would want it to be in mid $30s range before buying. Link to comment Share on other sites More sharing options...
KCLarkin Posted October 17, 2015 Share Posted October 17, 2015 If volume is limited but demand is growing faster than GDP, won't this allow them to raise prices faster than inflation? As See's candy and UNP show, pricing power is very valuable even if volume is limited. Link to comment Share on other sites More sharing options...
Capitalist World Posted October 17, 2015 Share Posted October 17, 2015 Too bad the symbol isn't ENZO instead of RACE Sergio missed a touching tribute moment.... Link to comment Share on other sites More sharing options...
wisborough Posted October 18, 2015 Share Posted October 18, 2015 It looks like price/mix expectations are flat. Pricing will inflate but mix will deteriorate as less V12s in the mix. 2015 will be the last major year of 'La Ferrari' shipments, the >eur1mln model, so this is a mix headwind. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted October 19, 2015 Share Posted October 19, 2015 Tucked in today's amended IPO filing by Ferrari, which included estimated deal terms ahead of Wednesday's scheduled NYSE debut, is 3Q forecasts. The auto maker's net profit is seen rising some 2/3 to EUR93-96M with operating profit up nearly 60% higher amid near-10% revenue growth. Final pricing is poised to occur tomorrow; parent Fiat Chrysler (FCAU) is poised to raise some $1B from selling a nearly 10% stake in Ferrari through the IPO. (eric.sylvers@wsj.com; @EricSylvers) (END) Dow Jones Newswires Saw this release by Dow Jones on Scottrade today. Thought you guys would find it interesting - a tidbit to get the market more excited pre-IPO. I hope that this ends up being an absolute frenzy. Link to comment Share on other sites More sharing options...
Palantir Posted October 19, 2015 Share Posted October 19, 2015 Too bad the symbol isn't ENZO instead of RACE Sergio missed a touching tribute moment.... This. Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 20, 2015 Share Posted October 20, 2015 http://www.bloomberg.com/news/articles/2015-10-20/someone-is-selling-a-9-million-1967-ferrari-thomassima-on-ebay Too bad it's not me selling ;D Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 20, 2015 Share Posted October 20, 2015 Ferrari IPO: Why This Engine Runs Too Rich Ferrari’s stock likely won’t accelerate as fast as its sports cars http://www.wsj.com/articles/ferrari-ipo-why-this-engine-runs-too-rich-1445324982#livefyre-comment Link to comment Share on other sites More sharing options...
nikhil25 Posted October 20, 2015 Share Posted October 20, 2015 Just saw Sergio smoking outside the UBS building in Midtown - unfortunately, he was engrossed in an animated conversation with a UBS banker annd I was too star-struck to strike up a conversation :-[ Link to comment Share on other sites More sharing options...
zenith Posted October 20, 2015 Share Posted October 20, 2015 Race priced at $52, at the upper end of the range, mkt cap initially is 9.8B Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 21, 2015 Share Posted October 21, 2015 Race priced at $52, at the upper end of the range, mkt cap initially is 9.8B Ferrari Raises $893 Million in IPO, Pricing Shares Top of Range http://www.bloomberg.com/news/articles/2015-10-20/ferrari-raises-893-million-in-ipo-pricing-shares-top-of-range Link to comment Share on other sites More sharing options...
merkhet Posted October 21, 2015 Share Posted October 21, 2015 Anxiously awaiting tomorrow's IPO. A fellow board member and I have a dinner bet on how well it trades tomorrow. :) Link to comment Share on other sites More sharing options...
Phaceliacapital Posted October 21, 2015 Author Share Posted October 21, 2015 An exciting moment in the history of Ferrari, no matter how the stock will close today: Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted October 21, 2015 Share Posted October 21, 2015 An exciting moment in the history of Ferrari, no matter how the stock will close today: I saw it get as high as 17% before the shares settled down some! I'm just happy it's even up for the day. I figured it would be given all of the evidence, but was concerned the price would drive some people away. Link to comment Share on other sites More sharing options...
Phaceliacapital Posted October 21, 2015 Author Share Posted October 21, 2015 http://www.cnbc.com/2015/10/21/ferrari-spikes-15-in-market-debut.html Link to comment Share on other sites More sharing options...
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